Core Insights - The current market for stainless steel is experiencing price declines, with specific prices for 304 cold-rolled steel in Wuxi and Foshan at 12,950 CNY per ton, down 50 CNY from the previous day [1] - Nickel ore prices remain firm, with domestic nickel ore prices expected to rise by 0.2-0.3 USD in September, while nickel iron prices are stable but face pressure due to increasing losses in domestic and Indonesian iron plants [3] - Domestic stainless steel production is on the rise, with an estimated output of 3.45 million tons in September, reflecting a month-on-month increase of 4.09% and a year-on-year increase of 5.07% [1] Price Trends - As of October 14, the cold-rolled stainless steel prices in Wuxi and Foshan are both at 12,950 CNY per ton, showing a daily decrease of 50 CNY [1] - The base price has increased by 40 CNY to 55 CNY per ton [1] Supply and Inventory - Domestic stainless steel production is projected to increase to 3.49 million tons in October, a month-on-month increase of 1.06% and a year-on-year increase of 5.99% [1] - Social inventory of 300 series stainless steel in Wuxi and Foshan has risen to 504,600 tons, a week-on-week increase of 32,700 tons [2] Market Dynamics - The stainless steel market is currently facing weak macroeconomic conditions, with prices generally below the latest agent prices, leading to limited willingness among traders to adjust prices [3] - The demand from traditional downstream sectors remains weak, while new emerging sectors are also showing a decline in growth expectations, resulting in increased bargaining space for traders but limited volume [3] Operational Recommendations - The main trading range is suggested to be between 12,400 and 12,800 CNY, with a short-term outlook indicating weak fluctuations [4]
不锈钢：宏观风险放大产业心态偏弱 需求兑现仍不足
Jin Tou Wang·2025-10-15 02:14